The open enrollment period for the federal Health Insurance Marketplace gives many people the chance to get affordable insurance for the first time, or renew their health insurance policy for another year. The marketplace gives you the ability to pick and choose insurance plans that work best for you and your family.
Unfortunately, life gets in the way and we might not always be on top of our health insurance game. If you miss the open enrollment period for Obamacare and aren’t covered under a special enrollment period, you may want to look into short-term health insurance options. New regulations may keep you from enrolling in the marketplace if you aren’t ready to buy insurance at the end of 2017.
Short-term health coverage
The importance of short-term health insurance coverage is coming into the spotlight after new regulations regarding Obamacare were put into effect. These new regulations would make it harder to get access to the marketplace if you miss the open enrollment period. You would be locked out of insurance opportunities for part of 2018, and it would be harder to gain access to the marketplace’s insurance options if you want to enroll late.
This brings private insurance back into the insurance game. If you are unable, for some reason, to obtain insurance coverage using Obamacare, you may be able to benefit from private insurance and their short-term health insurance options. This gives you the ability to stay protected while you wait for the open enrollment period to come around again.
New regulations for Obamacare make the yearly enrollment period half as short as it was in previous years. The enrollment period for 2018 health insurance will begin on November 1, 2017, and end on December 15, 2017. For some people, this isn’t enough time to get the insurance coverage they want or need.
Changes to Obamacare
Many people are wondering why there are changes being made to Obamacare and the annual open enrollment period. As the health insurance industry changes in the United States, the Affordable Care Act offered millions of uninsured individuals the chance to be able to afford their own health insurance. This increase in insured policy holders and the creation of the federal health insurance marketplace had an impact on how insurance agencies dealt with their health insurance policy offerings.
The Obamacare market isn’t perfect. There have been higher medical claims than normal, which leads to higher rates and insurance agencies backing out of the marketplace. This destabilization is what the new regulations are hoping to get rid of. Shortening the enrollment period is designed to make people decide on their health insurance plans early, before they need health care as a matter of medical necessity.
If you find yourself locked out of the 2018 health insurance market, there are other insurance options available. Research short-term health insurance coverage in your area to make sure you maintain health insurance coverage. This gives you the chance to regain access to the 2018 health insurance market and choose the health insurance plan that works best for you and your health.